News Highlights: Top Company News of the Day
December 05 2022 - 1:30PM
Dow Jones News
Verizon CEO Vestberg to Take Over Consumer Unit After Executive Exit
Consumer division leader Manon Brouillette departed after less
than a year amid weak wireless subscriber growth.
VF Corp. Chairman, CEO Steven Rendle Retires
The apparel maker tapped a former Clorox chief as interim leader
as it cut its sales and earnings guidance amid flagging demand.
EU Tells Illumina How to Unwind Deal to Buy Cancer-Test Developer Grail
The European Commission said Illumina will have to restore
Grail's independence and return it to the same level that existed
before the acquisition.
FTX Effort to Save Itself Failed on Questionable Assets
The assets, which consisted largely of four thinly traded crypto
tokens, likely were worth less than the $6.4 billion FTX was
claiming.
Blackstone's Property Bets Are Getting Shakier
Rent growth is slowing for residential real estate, which makes
up over half of the private-equity giant's portfolio.
Nike Parts Ways With Kyrie Irving
The sneaker giant has cut ties with the Brooklyn Nets star after
suspending its endorsement.
Restaurant Groups Push to Overturn California Fast-Food Wage Law
A coalition of restaurants and business groups said they have
submitted enough voter signatures for a ballot measure to try to
halt the implementation of a new California law that would set
minimum wages for fast-food workers.
Railroads Focus on Stabilizing Workforce After Strike Is Averted
The federal rail regulator and businesses criticize service
disruptions. Norfolk Southern is rethinking how it handles
furloughs.
Foxconn's Revenue Hit by Covid Outbreak at iPhone Factory
Since October, Foxconn has been scrambling to contain the
outbreak at its Zhengzhou facility in China, the world's biggest
iPhone assembly site.
Celsius Faces Bankruptcy-Court Test on Crypto Ownership
The firm says that cryptocurrency deposits belong to it, an
unsettled legal question for other crypto platforms now in chapter
11.
(END) Dow Jones Newswires
December 05, 2022 13:15 ET (18:15 GMT)
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